Can’t CNN come up with more sympathetic sob stories?

“And let’s not forget that ultimately, the bank was probably just wrapping this mortgage up in an MBS and selling it. It was more than likely making its money off the origination and servicing fees, not off the interest payments. The risk on these loans was wayyyy too far removed from the actual decision-making.”

And until the CRA and Clinton admins MADE banks write mortgages for such loans, did they make them? NO they did not.
Not fifteen years ago libtards and race-pimps were blaming banks for “red-lining for NOT making such loans.

And after the banks learned that IF they made loans to people they otherwise wouldn’t, Freddie and Fannie would back them, and Janet Reno wouldn’t harrass them, did they make such loans, SURE.

It’s called “moral hazard”. It happens every time some people are given other people’s money to screw around with, and think there’s no penalty for doing so. Think “government bureaucrats and leftist legislators”, and you’ll be right.

And when Barney and Chris Dodd stiffed other regulators, congressmen and Bush people who tried to rein in Freddie and Fannie (and thus the banks), did the banks keep making bad loans, thinking they were protected from financial AND political risk?

Or course they did. See “moral hazard”, above.

(I bet chap was right there in front of the red0lining demos, wearing a do-rag and shaking his tiny fist against the racist banks.)

In years past, I would have spent Mardi Gras blind drunk.  Reading the news today, I sort of miss that tradition.
Your tax dollars at work… removing tattoos, funding racism via La Raza, and building a shrine to Ted Kennedy which Mary Jo Kopechne…

Property value-preservation is not a civil right.

Sounds like a good protest sign to me.